ext_3181 ([identity profile] tcpip.livejournal.com) wrote in [personal profile] bobquasit 2008-09-13 02:35 am (UTC)

Of course something which ideological advocates for cutting the minimum wage usually overlook is that labour markets, especially for the low-skilled, are monopsonistic.

It's a balancing act, but the desired level is where the minimum wage is set so it is not greater than the competitive wage, but not lower than the monopsonistic wage.

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